Tax policy in the US is set to
change. Peter Cussons offers insight into curveballs the Obama administration
is set to throw for those doing business across the pond.
On 20 January 2009, when Barack Obama takes over from George
W Bush as US president, he will inherit a projected budget deficit
for calendar year 2009 of $1 trillion (£665bn).
Moreover, for the first time in 32 years, Congress will be controlled
by the same party.
The Republicans have 43 out of the 100 senators in the Senate.
While just 41 are needed to mount a filibuster, a budget bill only
requires 51 senate votes, so cannot under the current composition
of the Senate be filibustered by the Republicans and Independents.
